Up to this point we have looked at various ways into business or self employment. Before going into more detail about the best kinds of income/wealth generating activity, I want to cover some basic principles of business success.

Business is simple, you only need three things…..

1. First & foremost, you need a whole bunch of people who have a common want that needs filling. The more of them there are and the more “hungry” they are, the better.

2. You need a product or service that fills that want in the best & simplest way possible at a price they are willing to pay. This  means providing the most complete solution that you can, NOT as little as you can get away with for the money!!

3. You need a way to let these people know what you’ve got and how it so perfectly fits their needs. You also need to be able to convince them that they can trust you and that you are not going to disappoint them. Unfortunately they, like you, have been disappointed in the past so they may appear a little sceptical!

You would be surprised how many people break one or more, sometimes all, of the above requirements!

From a business management point of view ther are a few basic fundamentals that you need to be aware of – they are, however, pretty obvious.

1. You have to operate your business legally, i.e. in accordance with the laws of the country you will be
operating in.

2. You have to operate within certain financial constraints – namely, there has to be enough money coming in to pay for supplies and operating bills, pay the taxes and have enough left over for you to live on! Otherwise your business will be in debt (possibly as well as yourself) which will result in you becoming a SLAVE to your own business in order to try to get out of debt! Not conducive to FREEDOM!

3. You have to ensure your customers are happy otherwise they will tell each other, they will tell the media, they will tell the consumer watchdog groups and they will tell the business controlling authorities! They may even SUE!The result will be that you rapidly go OUT of business.

You will also have to deal with things called competitors! These are other people trying to sell the same kind of things to the same people as you are. If they are not there to begin with, they will turn up as soon as you show signs of being successful! Don’t worry about them – unless they’ve read these articles 🙂 – they will probably make all the classic mistakes so will not be a threat. The worst thing you can do is take your eye away from giving your customers the best service you can and focus on your competitors instead. Keep the customer happy, and let the competitors look after themselves. The person who pleases the customer most, wins!

Now I know this sounds pretty demanding, especially the “keep the customer happy” bit. So how do you ensure you can follow the best principles of business whilst still following the best principles of freedom? Easy, combine business with pleasure! In other words, before you look for the “hungry crowd”, seek out your own hunger. If you go into a business which involves doing what you really want to spend your time doing, then you have found your “passion”. That passion will become contagious and will attract others with the same interests or needs – that is the hungry crowd you are looking for. They will become your best customers, possibly even friends and no competitor who lacks the passion will get a look in.

Business should never be a chore, business should never be tying, you should never feel the same way about your business that you may have felt about a job you hated or even just disliked a little! Business should be F-U-N! For both you and you customers!

Have a fantastic week!

We’ve covered quite a lot of ground in the last five weeks, so I thought it would be a good idea to review the plan so far! It is very easy to get carried away with the latest information or ideas and forget to carry on with previous learning.

By now you should have a clear idea of how you and other members of your family want to live your lives. You will have set your goals both material and lifestyle and be practising the exercises I gave you for achieving those goals. If you have not written down your goals as taught in part 4, please do so now. I cannot stress strongly enough the importance of clearly defined goals. Similarly, if you are not carrying out the goal “visioning” exercise every day, do so from now on – it works!

Onto your debt elimination. Have you carried out the debt listing exercise in part 1 and the debt prioritising exercise in part 2? If so, you should by now have made a start on clearing your highest interest debt. If not, start now – the later you leave it, the longer it will take and the harder it will get! A few of you will have….
ADDED to your debts in the last few weeks (I know this because I have years of experience of human nature). Please, STOP adding to your debts, debt will keep you and your family in SLAVERY for years, and that is precisely the opposite of FREEDOM!

If you really and truly want to take control of your own life you will have taken note of and acted on the earlier lessons. So take stock now of your progress, it will be slow at first – like turning around a huge oil tanker, but once you start to gain momentum, your progress will get faster and faster.

Last week I gave you some freedom principles which have been life changing for me and many other people. I hope you were able to take them to heart without too much difficulty. They may well have gone against years of “programming” but give them “house-room” and they will repay your acceptance many times over.

Here is one more – you may or may not have heard it before, but it is fundamental to the philospher’s often repeated question….
WHY AM I HERE? You are in this life to become your own highest vision of yourself, or at least get as close to it as you can in the time you have on this planet. You are NOT here to be what someone else wants you to be! You are NOT here to conform with the requirements of the State, without question! You are NOT here to be the slave of another or to make someone else rich! You are simply here to achieve your own highest ambition!

But be careful, this does not give you free reign to walk over other people or manipulate others in any way. Remember, they are all here for the same reason you are, even if they don’t know it yet! Be kind to others on the path – they may even reciprocate! We can help others without becoming slaves to them.

So far I have introduced you to some of the freedom principles that I live by. Together we have looked at examining your lifestyle requirements and those of your family. I have given you a method to get out of debt that I know works, because I have personally used it! I have also shown you how I and most successful people set and achieve goals.

Now I want to introduce you to some very controversial freedom principles! Are you ready? Do you have an open mind? You may have heard some of these before, the message is beginning to get out there – so here goes……

• You have the RIGHT to be free and to choose your own destiny! But your choices should not deny the same rights to others
• You may CHOOSE to serve others, and this can be very satisfying, but no one should force, or coerce or manipulate you into doing so!
• You were NOT born into modern slavery, even though it might sometimes feel like it!
• You have the RIGHT to be happy, it is our natural state (left to our own devices!) If what you are doing does not make you happy, or worse still makes you unhappy – CHANGE what you are doing!
• Kill the BIG LIE …. Money DOES Grow On Trees!! In both the literal and metaphorical sense. Literally, apples, oranges, olives, almonds, walnuts….. i.e. CASH CROPS grow on trees. But, more important is the metaphor. When, as a child, you were told that money does not grow on trees, you were in effect being told that there is a limited supply of money. In fact the supply is NOT limited! For those that can change their belief and learn how to make money, there is no limit. There may, however, be limits to what you are prepared to do to make money – but that is your choice and comes from your freedom to decide.
• But also understand that money isn’t everything, it is simply a means of exchange. Do not sell your soul for it. Having the right attitude to money is what is important. Money is NOT the master, YOU are!
• Freedom brings responsibilty. You must live with the outcomes of your choices. Make them wisely.

I shall leave you to ponder these concepts and make room for them in your life. But we are not finished yet, I shall introduce many more before we are finished here!

During the last few weeks I’ve indicated some of the benefits & pitfalls of going solo. I’ve also detailed the key differences between self-employment and running your own business. You have also seen a variety of ways to do both.

This week I want to give you the benefit of my experience working in a number of businesses. If freedom is your goal, be aware that not all businesses will give you that. Some businesses can be very tying or demanding.

First of all, what are you going to sell. There are three types of product:

products you sell once, in other words every sale is to a new customer.

Products with repeat sales, customers keep coming back for more.

Products that are part of a family or range, you can keep on selling new products to existing customers.

The second is preferable to the first, but the third is the easiest, once you have a satisfied customer, they automatically keep buying. The first is the hardest as you are having to constantly find new customers and persuade them to buy.

Services likewise fall into 3 different categories just as the products above. However, services also have a different set of categories in addition to the above.

Services you provide personally.

Services provided by employees or subcontractors.

Services that can be delivered automatically.

The above can also be applied to products but in a slightly different way.

You can produce the products yourself.

You can employ other people to make them.

Or you can buy them in for resale.

As you can see, there are a large variety of options here, as well as permutations of two or more of the above.

Producing products or services yourself is very tying. Most people who take this route do not achieve the kind of freedom they seek.

Employing other people can also be very tying, they have to be supervised and managed and someone has to bring in the sales to keep them all busy. There is also a lot of bureaucracy and cost involved in employing staff. This is especially so in UK and Europe, though not quite so bad in USA.

Without going into too much further detail on all these different options, let me give you a few pointers to what I think are the ideal “freedom” businesses.

The ideal product should not need your personal input to produce it on a continuous basis. You may have to create the idea at first, but if you become a production line, you cannot be free.

The perfect product should be deliverable to the customer on “autopilot”, in other words you should not have to concern yourself about delivery.

Similarly, orders should be processed via a simple procedure that carries on automatically once you have set it up.

Payment should ideally be made directly into your bank account, processing cash and cheques is very time consuming.

The perfect product should require very little customer service and the little that is needed should be able to be carried out remotely, e.g by email, telephone etc.

The perfect business should be “portable”, in other words you should be able to run it from anywhere.

Your ideal business should require very little personal input from you other than setting it up in the first place, over- seeing the operation and devising and implementing new ideas for marketing the product.

In a perfect world, your business should not require employees, by which I mean staff directly employed by you. You will need the input of other people, but they should be suppliers, agents, affiliates etc. You may also need professional advisors for the tricky legal & financial stuff or to help with developing the business.

Both Mail Order and Internet businesses can be set up to meet these requirements. This is why I highlighted them in an earlier article!

Next time I shall talk about the basic needs of any business and what separates the successes from the failures.

Until then, have a great week!

I’m wrote this article on a flight to Alicante in Spain. I had just just left England in the rain & was looking forward to spending some time in the sun. Meanwhile, my business could pretty much run itself while I was away.

Why am I telling you this? Well, to show you what is possible once you achieve the freedom mindset and lifestyle.

Last week I left you thinking about your goals. This week I shall continue with the theme. Setting the right goals and programmimg yourself for success is fundamental to achieving the freedom you seek.

Setting Goals

“Most people, whether in business or not, are too busy earning a living to make any real money!” So said a guy who became a major influence on my business life at an early stage. His name was Roy and he was what I often refer to affectionately as a `hustler’ – by which I mean someone who makes things happen by sheer force of will and personality. Roy introduced me to a number of `success’ concepts but the most important of all was the concept of setting goals.

I have since come across the same philosophy from a large number of people, all of whom are successful at what they do. They all say the same thing – “You can have anything you want if you know exactly what it is, set it as a specific objective and, most importantly, allow yourself to have it!”. So, it seams that you need to start out knowing what you want and set goals to achieve it.

Over the years I have examined the ways in which these people set their goals and found a remarkably common approach. I have also refined this approach to ensure that goal conflicts don’t occur.

“Hang on! What’s a goal conflict?” I hear you ask. Well, goal conflicts occur when individual goals are pursued in isolation without reference to or co-ordination with other goals. For example, a particular business goal may involve working long hours for a while or travelling away from home. At the same time you have a personal goal to spend more time playing golf, whilst a family goal may be to spend more time with the kids! Something has to give …. hence goal conflict, one goal gets in the way of others. Simple really, but so often overlooked.

So how do you get it right? First of all it is important to recognise exactly what a goal or objective is. Most people are too vague and specify aims rather than objectives. For instance an aim might be to get rich – but how do you define rich? In this case a specific objective might be – “By the end of 2005 I shall be earning £100,000 per year and have £250,000 invested.” I hope you see the difference.

A goal must be tangible, measurable, achievable and have a time scale for completion and it must be described in detail. Another example – “I want a new car” is not a goal, it is a wish and, as far as I have been able to ascertain, to get your wish you need either a genie or a fairy godmother – neither seem to be in particularly good supply!

On the other hand – “On 1 August this year I shall take full ownership of a brand new Lexus 2000 automatic in metallic red with grey trim.” – is pretty specific.

Exercise

Try this exercise. Take a sheet of paper and draw a vertical line down the centre. On the left side write the heading Personal Goals and on the right side put the heading Business Goals. At the very top in the centre write the heading Immediate Objectives.

List as many immediate personal goals as you can think of on the left and do the same for business goals on the right. Personal goals are to do with achieving the life-style you want. Business goals are directed at the way you want your business or career to develop e.g. To increase market share to 40% or double turnover or increase profits by 25% or maybe to employ an effective manager to give you more time for other things.

Later you can do the same for medium and long term goals, say for one year and five years ahead.

Next make sure that there is no conflict between personal and business goals, or between goals on the same list, in fact business goals should ideally support the personal goals, after all, what are you in business for?

Now take three personal goals and two business ones, five in all, and think about them in more detail as in the car example above. Then write them out in a similar way to the car example, in the first person future tense. Make sure that each goal is described in full detail, that you state a date by which or on which the goal will be achieved and that you state that you will achieve it. Write them clearly in large print in priority order on a separate, clean sheet of paper. Do not show this list to anyone other than someone who is working with you towards your goals and don’t talk about it. The act of writing down your goals in this way sets in place the plan for their achievement.

Work Your Goals

Every morning read your list out aloud to yourself then close your eyes and picture in your mind the achievement of the goal. Imagine the feeling of driving the car, banking the business takings, relaxing on the sun-drenched beach or whatever your goal entails. Then put the list away and go about your daily business with confidence. What you have just done is to program your subconscious mind to act as an auto pilot to help you achieve your goals. Operating on auto pilot is what the subconscious does best, after all it does a pretty good job of keeping us alive in an increasingly hostile environment.

It is important that having so programmed your subconscious that you now let it get on with the job without hindrance from the conscious mind. That means not actively struggling to make things happen. All things take time, but with this method they usually take less time than by applying conscious force. You will find that ideas for fulfilling your objectives will simply come to you. When they do, act on them at once and you will find yourself moving inexorably towards the kind of life you want.

As each goal is achieved place a tick next to it on the list and say “thank you”. Replace that goal with a new one and write out a fresh list, then continue the process.

How does it work? The truth is I don’t actually know. Many people have tried to give an explanation, either scientific or metaphysical, but we know too little about how the mind (or the universe) works! All I know is that whenever I use this system it gets results and it also works the same way for many other people. Frankly, as long as it does that’s all that matters to me. I don’t need to know how a computer works to use one and I don’t need to know how a car engine works to be able to drive! I’ll leave the PhDs to work out how while I just enjoy the result.

Don’t be sceptical, give it a try for yourself. If it works for you just think how it could change your life! If it doesn’t, what have you lost?

Until next time

best wishes

In the last few weeks I have looked at a number of options for both self employment and setting up a business. But before we go any further, let’s get a clear idea of just what kinds of business are there out there! So this week we’ll briefly examine the following types of business:

Manufacturing Wholesale Retail Agriculture/horticulture Business services Personal services Leisure Mail order Internet

Don’t worry, I don’t intend to get too technical here – neither do I want to bore you with too many dry facts. But a clear overview of a subject never comes in wrong. So here goes….

MANUFACTURING

Manufacturing, as its name implies, involves making things to sell. The steps include the design of the product, sourcing and purchasing the raw materials, acquiring the tools or equipment needed to work the raw materials, obtaining suitable premises for the task, employing and training staff to use the tools or equipment to make the products and finding someone to buy sufficient quantities of the stuff to make the whole thing viable.

The benefits are that, if the product is a success, you just ‘ramp up’ production to meet demand and bank the profits. The downside is the cost of setting all this up in the beginning and the potential costs associated with keeping things going during a downturn. It also takes a lot of looking after. It can also be very difficult selling large quantities of products whilst keeping the manufacturing process going. This is where the next type of business comes into its own….

WHOLESALE

The function of the wholesale business is to buy large quantities of goods from the manufacturer and then sell them on in smaller quantities to retail outlets – after adding a profit on to the price. The advantage of being a wholesaler is that you don’t have to invent new products all the time. You just look for products from manufacturers that you think will sell well in the marketplace and negotiate a price that lets you sell them on at a profit. You do, however, have to identify a good market for these products as you need to sell in quantity to make your money.

The costs associated involve large warehouses to store the high volumes of goods coming from the manufacturers. Packaging equipment and staff to re-package the goods into smaller lots to sell on are also required, as is transportation to the customer and sales, admin and accounting staff to look after that side of the business. Wholesalers generally buy from a number of manufacturers in order to provide their retail customers with a wide variety of goods. Their job is to keep retailers stocked with saleable goods that the public will buy.

RETAIL

These are the businesses that ultimately sell products to the public. Larger ones will buy direct from the manufacturer and may even suggest product ideas. The typical small retailer, however, relies on one or more wholesaler to supply a good range of products to appeal to the customer. The majority of retailers sell to the general public, consumers like you and me. Some specialise in selling appropriate products to businesses e.g. stationery and office supplies, office machinery, computers etc.

Retailers need somewhere to sell from. It may be a shop or a market stall, or it may be via mail order or even a website on the internet. In some cases they may use a mobile shop or take their goods to craft fairs, flea markets etc. The aim being to put themseolves in front of as many potential customers as possible.

AGRICULTURE/HORTICULTURE

The primary industry in any civilisation is the production of food. Agriculture these days is big business involving huge farms producing staple crops. However, there is still room for the small holder specialising in home grown or even organic produce. Horticulture on the other hand, is more about cultivating and propogating a wide variety of plants, many of which are sold to garden centres etc.

Modern agriculture is heavily mechanised, though horticulture can be quite labour intensive. One requires a heavy investment in machinery and the other in experienced plantsmen and women.

Both need a significant amount of land to create a worthwhile and profitable business.

THE SERVICE INDUSTRIES

The above areas of business focus on the provision of products, tangible items that can be seen, touched and even heard. Whether large or small, permanent or consumable they are inherently physical. They comprise society’s primary and secondary industries. The third wave is more recent but shows more dynamic growth than the others – it is the service sector.

BUSINESS SERVICES

As business has grown over the years, a whole range of ancillary businesses have developed to service the needs of the modern business. Everything from accounting and secretarial services to photocopier and computer maintenance to specialist advisers and consultants. From the supply and laundering of towells for the washroom to lunch meeting caterers to business trainers and many, many more have sprung up to help business managers to avoid the peripheral areas and focus on their core business.

Basically anything that can help a business owner or manager to build and develop the business or that can take away a time consuming or unwanted chore or distraction, can be built up into a business services business. What’s more, if the service genuinely helps in any of the indicated ways, there will be no shortage of managers ready and willing to pay the price.

PERSONAL SERVICES

In our busy, hectic and stressful society, there is more opportunity than ever before to make money from providing valuable personal services. From traditional areas such as nannies, hairdressers, manicurists etc. to the more modern services such as personal trainers, health gurus and even personal shoppers, there appears to be no area of life (or at least very few) that has not produced a personal service business.

In fact, personal and business services have been among the growth areas of the latter half of the 20th century and are set to be one of the driving forces of the 21st! As more people put increasing value on their time, their appearance and their lifestyle so the personal service industry will continue to provide lucrative business opportunities. Even the traditional domestic servant is making a comeback, though in a form unrecognisable to those of the late 19th and early 20th centuries. Whatever the service, if you can imagine it and provide it well – someone, somewhere will buy it!

LEISURE and HOSPITALITY

While personal and business services have grown enormously the explosion has been in the leisure industry. Clubs, bars, hotels, restaurants, theme parks, leisure centres, health spas, resorts, cafes, amusement arcades, golf courses, gambling casinos, sport, travel… You name it, we’ve got it and it just keeps growing and changing. Lifestyle and leisure the driving force for the 21st century? Who knows! If you think it sounds like fun, it can be, but it can also be very exhausting.

MAIL ORDER

Mail order had its origins in a number of places. It set out to deliver goods to those people who did not have access to them or couldn’t afford them. Settlers in the Australian outback and pioneers of the new frontiers of the USA were able to buy their needs without travelling many miles to do so. In British industrial towns a shilling a week could buy items from catalogues that could not be bought outright from the local shops & stores. Later, the sheer convenience of mail order helped it to grow. Now there is very little that cannot be bought by mail order.

INTERNET

The new kid on the block! The World Wide Web. Forecasts for the amount of future business to be done on-line are astronomical! Already fortunes have been made in the dot com boom and as readily lost in the great dot com crash! Like any new industry, and make no mistake, this is an industry in its own right – maybe even the new 4th wave, the internet has had and will continue to have its teething troubles. I’m told that the great money spinners on-line are sex and gambling – nothing new here then! But close behind, in my experience, is the “Get Rich Quick” brigade. We saw them (and still do) in the mail order field, but that was nothing compared to the phenominal explosion of “how to make money on the internet” books and courses or on-line Multi-Level Marketing schemes.

Some people claim you can sell anything on-line, I have an open mind. Time will tell what will sell best and what will not sell at all on-line. This one is in its infancy – that means there are bags of opportunities out there, but beware there are also pitfalls. Everything is unproven, it changes daily and the sharks are out in force. Take a chance, but also take care.

I’ve tried or checked out all of the above. From a freedom perspective my vote goes to the last two. In future issues I shall tell you why.

I hope this has given you a clear but simple overview of the business market place.

Until next time, have a great week

PS – Don’t forget to post your comments (or criticisms!) as well as anything to do with business or freedom that you would like to see in the newsletter. If you have any hints or tips to share with your fellow subscribers postthem too.